When you subscribe we will use the information you provide to send you these newsletters. Sometimes they’ll include recommendations for other related newsletters or services we offer. OurPrivacy Noticeexplains more about how we use your data, and your rights. You can unsubscribe at any time.

Read More

Related Articles

The Mint is due to release 1.5billion of the coins on March 28, 2017. The public are being urged to use their old-style round pounds before the coins lose their legal tender status on October 15, 2017.

Some of the coins returned by the public will be melted down and used to make the new pieces.

Scientist honoured on 50p

When the new pound comes out, two special £2 coins and one 50p piece are also expected to be released.

The 50p coin honours Sir Isaac Newton, of of the most famous scientists to study at Cambridge University.

Read More

Related Articles

Jonathan Hart from the Automatic Vendors Association said operators will send out engineers to upgrade them.

He expects the upgrades to cost millions - although operators should make their costs back thanks to the reduction in forged coins.

Older machines will have to be temporarily removed in order to be fixed, he added, although others can be fixed on site.

Hart explains: “When you put your £1 coin in a vending machine, it goes down a ramp, almost like a motorway. If the machine recognises the coin, it is allocated into a plastic tube where all the £1 coins are kept. If it is not accepted it just comes out again.

“Among these tubes, there is usually at least one spare for upgrades. During the initial period, the new £1 will go into one of the spare tubes. Then an engineer will switch the temporary tube off. “

What about shopping trolleys?

The new coin will not work in shopping trolleys, but supermarkets across the country have already begun the process of updating their locks.

There has been a plan put in place since the announcement of the new coin from the Mint, which includes updating the lock and providing alternatives to the coin being needed., so hopefully this won't stop you doing your big shop.

Read More

Related Articles

Micro-lettering – it has very small lettering on the lower inside rim on both sides of the coin. One pound on the obverse 'heads' side and the year of production on the reverse 'tails' side, for example 2016 or 2017.

Bimetallic – it is made of two metals. The outer ring is gold coloured (nickel-brass) and the inner ring is silver coloured (nickel-plated alloy).